Missouri Video Lottery Control Act filed
JEFFERSON CITY—Senator Denny Hoskins filed legislation last week that creates the "Missouri Video Lottery Control Act". The act provides a licensing and regulatory framework for the implementation and use of video lottery games placed in establishments with liquor by the drink licenses.
Senate Bill 452 would require the state lottery to develop a licensing structure for manufacturers, operators, handlers and retailers of video lottery terminals. The Act also requires hands-on oversight and enforcement by the lottery.
Once implemented, the Act is projected to produce an estimated $123 million in new revenues annually dedicated for higher education and provide approximately $5 million annually from licensing renewal fees for Missouri Veterans homes, cemetery maintenance and capital improvements.
"My expertise as a Certified Public Accountant is being put to good use serving on the Senate Appropriations Committee where we craft the state budget and often times discuss how we will slice up the pie. However, we seldom try to find ways to increase the pie," Sen. Hoskins said. "This bill is intended to start a discussion and take a serious look at how we can grow revenue. With that in mind, this bill would direct revenue to higher education, while the licensing fees would go to the Veterans Commission."
"Missouri already has lottery products in bars and restaurants, as well as fantasy sports and pay at the pump games at gas stations," Sen. Hoskins said. "It is obvious the technology and interest in these games is at a point where there will possibly be lottery games on our hand-held devices in the near future."
This bill also creates a private-public partnership, has the potential to create more than 20,000 new jobs and will bring in additional state and local sales taxes. The bill awaits assignment to a Senate Committee for a public hearing.